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The Certified Morgan Silver Dollar 1896 MS64 PCGS has earned a grade that falls in the middle of the BU Sheldon Grading Scale and comes encased in an official PCGS holder. The Philadelphia Mint is the oldest mint in the US, being established in 1792. After the ratification of the Constitution, the Founding Fathers needed to establish a national identity and a means of commerce. At the time, Philadelphia was the capital of the US so it only made sense for the first mint to be built there. The Mint Act was also passed, during this time, to assign coins denominations based on their legal tender or metal fineness. This act also constituted that any coin in the US should feature "an impression emblematic of liberty." Out of the four original main mints that produced the Morgan silver dollars, only the Philadelphia Mint and the San Francisco Mint are still operating today.